Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Macrogenics Inc shares valued at $799,148 were sold by Peters Jeffrey Stuart on Apr 04 ’24. At $15.55 per share, Peters Jeffrey Stuart sold 51,395 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Peters Jeffrey Stuart sold 19,625 shares, netting a total of over 421,938 in proceeds. Following the sale of shares at $21.50 each, the insider now holds 8,895 shares.
Before that, Risser Eric Blasius had sold 41,159 shares from its account. In a trade valued at $813,501, the Chief Operating Officer traded Macrogenics Inc shares for $19.76 each. Upon closing the transaction, the insider’s holdings decreased to 41,159 shares, worth approximately $0.18 million.
As published in a research note from TD Cowen on May 10, 2024, Macrogenics Inc [MGNX] has been rated down from a Buy to a Hold. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early May. As of May 10, 2024, BMO Capital Markets has decreased its “an Outperform” rating to a “Market perform” for MGNX. Earlier on April 26, 2024, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for MGNX stock.
Analyzing MGNX Stock Performance
During the last five days, there has been a drop of approximately -9.57%. Over the course of the year, Macrogenics Inc shares have dropped approximately -51.87%. Shares of the company reached a 52-week high of $21.88 on 03/06/24 and a 52-week low of $3.14 on 05/10/24. A 50-day SMA is recorded $13.48, while a 200-day SMA reached $10.25. Nevertheless, trading volume fell to 1.59 million shares from 2.17 million shares the previous day.
Support And Resistance Levels for Macrogenics Inc (MGNX)
According to the 24-hour chart, there is a support level at 4.50, which, if violated, would cause prices to drop to 4.37. In the upper region, resistance lies at 4.82. The next price resistance is at 5.01. RSI (Relative Strength Index) is 25.97 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.04, which suggests the price will decrease in the coming days. Percent R is at 88.80%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
